Guatemala and IMF Agree on Higher Fiscal DeficitTuesday, August 18, 2009 The Government and the IMF agreed on a fiscal deficit of up to 3.4% of the GDP in 2009. An IMF mission visiting Guatemala that ended August 14th, remarked that "the global economic crisis had a negative impact on Guatemala and the region. A GDP drop of 0.4% is expected, with risk of dropping even further". Fitch: Latin American Sovereign Outlook 2009Friday, March 20, 2009 Fitch expects that Latin America’s real GDP will contract by 0.9% in 2009, with Brazil’s economy stagnating at best and Mexico contracting by over 2%. Latin American economies have recoupled with the crisis in the developed economies. Since September 2008, Latin American countries have been buffeted by stronger external headwinds, as evident from the fall in regional currencies and stock markets and from widening bond spreads. The Healthy and Sick Fiscal Deficits of Central AmericaMonday, December 9, 2013 While Nicaragua and Panama have sustainable levels of public debt, for El Salvador, Honduras and Costa Rica the prognosis is "reserved" . Recent analysis by the Central American Institute for Fiscal Studies (Icefi) reflects very different fiscal situations in each country. Guatemala: Public Debt Exceeds 23% of GDPMonday, October 15, 2018 Up to August, the external and internal public debt amounted to $18.463 billion, equivalent to 23.4% of the country's Gross Domestic Product. According to figures from the Ministry of Public Finance, in the last nine years the debt to GDP ratio has slightly varied, between 23.3% and 24.8%. Guatemala: Economic Situation and ProspectsFriday, July 18, 2014 A joint report by the Central Bank of Guatemala confirms the outlook for economic growth of between 3.3% and 3.9% for 2014. From a summary of a report by the Banguat entitled "Economic Situation and Prospects of the country": World Bank, IDB, CAF: Now Everyone Knocks on Their DoorsMonday, April 13, 2009 In good times, multilateral lending agencies do not have too many customers. In times of crisis, everyone needs them. To continue to grow and not stagnate, Latin America needs foreign investment in an amount ranging from 5% to 6% of the GDP in the region. It is $200 billion, a figure too large for the current scope of these credit institutions. Guatemala: Public Debt Could Reach 25.5% of GDPWednesday, January 22, 2014 The fiscal deficit of 2.3% proposed for the 2014 budget would cause such an increase in the Guatemalan public that could put monetary policy at risk. In 2014 Guatemala's public debt will increase and it will be approximately $14.670 billion, equivalent to 25.5% of the country's GDP, explained Edgar Barquín, president of the Bank of Guatemala. Strike and Economic LossesFriday, September 14, 2018 Exporters resent the effects of five continuous days of demonstrations, blockades and widespread insecurity on the roads of Costa Rica. Before the strike, which was started a few days ago by unions representing the country's public institutions, the Chamber of Exporters of Costa Rica (Cadexco) denounced the fact that companies in the sector are facing multiple difficulties in exporting their products. Puerto Moín, the main outlet for exports, is only operating six hours a day, leaving close to 12,000 tons per day unable to be shipped, which is estimated to be equivalent to almost $10 million in daily sales abroad. Guatemala: Year End Fiscal Deficit at 3.2%Tuesday, December 13, 2011 The Ministry of Finance has changed the estimated projections for 2011, from 2.9% to 3.2% of GDP. Experts in the field differ in their views, for some expenses was excessive, while for others their containment is due to the Government's commitment to the IMF regarding controlling management resources. Request for Tax Rise in GuatemalaFriday, June 6, 2014 The president of the Bank of Guatemala has stated that in order to sustain the fiscal debt, the tax burden in the Guatemalan economy will have to rise from 11% today to 14%. An article on Lahora.com.gt reports that, Edgar Barquín president of the Bank of Guatemala, said "... in order to maintain economic stability and ensure social spending for the benefit of the population, the level of taxes needs to rise to 14 percent of GDP this year. Central America: Fiscal Outlook - April 2016Tuesday, April 19, 2016 From 2014 to 2015 the size of central governments remained constant at an average 18.5% of gross domestic product (GDP). From the introduction of the report: "Macrofiscal Profiles: 6th Edition" by the Central American Institute for Fiscal Studies (Icefi): Costa Rican State Consumes 26% of GDPThursday, September 19, 2013 In relation to GDP, the expenses of the Costa Rican state are the highest in Central America. This was revealed by a survey conducted by the Central American Institute for Fiscal Studies (Icefi). Second place is occupied by the Government of Panama with 23% of GDP followed by Guatemala which has one of the lowest with 15.1% of production. The Unstoppable Public DebtThursday, September 13, 2018 "Public debt in terms of simple average for the Central American region will continue growing, reaching 43.1% of GDP in 2018, after having registered 42.5% in 2017." The Central American Institute of Fiscal Studies (Icefi) estimates that for the current year the size of public expenditure of the Central Government in relation to the respective Gross Domestic Product of each country will be 21.4% in Costa Rica, 20.4% in El Salvador, 20% in Honduras, 18.4% in Nicaragua, 17.6% in Panama and 12.1% in Guatemala. Guatemala: Fiscal Reform in 2011Tuesday, November 30, 2010 After four failed attempts in Congress, the Government will resume the subject next year. Rolando Del Cid Pinillos, Finance Minister, said that this time, the government will not make a large public consultation, but will negotiate with all productive sectors on a case-to-case basis. Guatemala: Fiscal Package Includes More TaxesWednesday, August 10, 2016 The tax reforms proposed by the Morales administration could include a new tax on telephony and increases in taxes on cement, hydropower and alcoholic beverages. The amounts and characteristics of the taxes are still unknown, but at a meeting between representatives of Congress and the Executive Branch details were given on the productive activities that are included in the government proposal. |
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